The real power to control the world lies with four companies:
McGraw-Hill — which owns Standard & Poor’s
Northwestern Mutual — which owns Russell Investments, the index arm of which runs the benchmark Russell 1,000 and Russell 3,000
CME Group — which owns 90% of Dow Jones Indexes
Barclay’s — which took over Lehman Brothers and its Lehman Aggregate Bond Index, the dominant world bond fund index.
Together, these four firms dominate the world of indexing. And in turn, that means they hold real sway over the world’s money.